Budget concerns.
Early Saturday morning, the Senate passed its amendment to the House budget resolution, 51-48 — a step forward toward tax reform via reconciliation. But the Senate’s version contrasts starkly with the original House measure, leaving many budget-conscious House Republicans wary of approving the amendment.
Notably, the Senate version appears to use a “current policy baseline” to extend the expiring provisions of the 2017 Tax Cuts and Jobs Act. By doing so, it assumes provisions currently in effect extend indefinitely, regardless of sunset dates — therefore extending them would add no new costs.
To dig deeper, visit the original article on the Thomson Reuters blog.